FEMA taps Halliburton subsidiary, Shaw Group, Bechtel for cleanup

[basschick]

oh, my god. it gets worse and worse. first they leave two states on their own in a natural disaster of biblical proportions, now haliburton people are profiting from it!

"WASHINGTON (Reuters) -- Companies with ties to the Bush White House and the former head of FEMA are clinching some of the administration's first disaster relief and reconstruction contracts in the aftermath of Hurricane Katrina.

At least two major corporate clients of lobbyist Joe Allbaugh, President Bush's former campaign manager and a former head of the Federal Emergency Management Agency, have already been tapped to start recovery work along the battered Gulf Coast.

One is Shaw Group Inc. and the other is Halliburton Co. subsidiary Kellogg Brown and Root. Vice President Dick Cheney is a former head of Halliburton.

Bechtel National Inc., a unit of San Francisco-based Bechtel Corp., has also been selected by FEMA to provide short-term housing for people displaced by the hurricane. Bush named Bechtel's CEO to his Export Council and put the former CEO of Bechtel Energy in charge of the Overseas Private Investment Corporation.

Experts say it has been common practice in both Republican and Democratic administrations for policy makers to take lobbying jobs once they leave office, and many of the same companies seeking contracts in the wake of Hurricane Katrina have already received billions of dollars for work in Iraq.

Halliburton alone has earned more than $9 billion. Pentagon audits released by Democrats in June showed $1.03 billion in "questioned" costs and $422 million in "unsupported" costs for Halliburton's work in Iraq.

Watchdog groups take notice
But the web of Bush administration connections is attracting renewed attention from watchdog groups in the post-Katrina reconstruction rush. Congress has already appropriated more than $60 billion in emergency funding as a down payment on recovery efforts projected to cost well over $100 billion.

"The government has got to stop stacking senior positions with people who are repeatedly cashing in on the public trust in order to further private commercial interests," said Danielle Brian, executive director of the Project on Government Oversight.

Bush appointees at Halliburton
Allbaugh formally registered as a lobbyist for Halliburton subsidiary Kellogg Brown and Root in February.

In lobbying disclosure forms filed with the Senate, Allbaugh said his goal was to "educate the congressional and executive branch on defense, disaster relief and homeland security issues affecting Kellogg Brown and Root."

Melissa Norcross, a Halliburton spokeswoman, said Allbaugh has not, since he was hired, "consulted on any specific contracts that the company is considering pursuing, nor has he been tasked by the company with any lobbying responsibilities."

Allbaugh is also a friend of Michael Brown, director of FEMA who was removed as head of Katrina disaster relief and sent back to Washington amid allegations he had padded his resume -- which he denies.

A few months after Allbaugh was hired by Halliburton, the company retained another high-level Bush appointee, Kirk Van Tine.

Van Tine registered as a lobbyist for Halliburton six months after resigning as deputy transportation secretary, a position he held from December 2003 to December 2004.

On Friday, Kellogg Brown & Root received $29.8 million in Pentagon contracts to begin rebuilding Navy bases in Louisiana and Mississippi. Norcross said the work was covered under a contract that the company negotiated before Allbaugh was hired.

Cheney's relationship with Halliburton
Halliburton continues to be a source of income for Cheney, who served as its chief executive officer from 1995 until 2000 when he joined the Republican ticket for the White House. According to tax filings released in April, Cheney's income included $194,852 in deferred pay from the company, which has also won billion-dollar government contracts in Iraq.

Cheney's office said the amount of deferred compensation is fixed and is not affected by Halliburton's current economic performance or earnings.

Allbaugh's other major client, Baton Rouge-based Shaw Group, has updated its Web site to say: "Hurricane Recovery Projects -- Apply Here!"

Shaw said on Thursday it has received a $100 million emergency FEMA contract for housing management and construction. Shaw also clinched a $100 million order on Friday from the U.S. Army Corps of Engineers.

Shaw Group spokesman Chris Sammons said Allbaugh was providing the company with "general consulting on business matters," and would not say whether he played a direct role in any of the Katrina deals. "We don't comment on specific consulting activities," he said.:

[gaystoryman]

You have to wonder just who is advising bush? I mean sheesh, all the flack he's taken and then to do this on top of it? unreal and disgusting actually...

[Squirt]

WASHINGTON (AP)—Vice President Dick Cheney has confirmed that repairing the devastation caused by Hurricane Katrina will be just as lucrative to Republican corporations as the U.S. wars in Iraq and Afghanistan have been.

“Hurricane Katrina to shaping up to cost us as much as $300 billion or more as the worst natural disaster in American history, or about the same amount as what our wars in Afghanistan and Iraq have cost us in four years of fighting,” gloated Cheney at a White House news conference.

“That means money in the bank for our Republican corporations, not only my own Halliburton but others as well like the Carlyle Group, Bechtel, Exxon Mobil, and other fine U.S. companies which are linked to the Republican Party.”

He went on to describe how a huge number of reconstruction contracts have already been awarded to Halliburton and other Republican firms, just like in Iraq, and that many more remain to be issued to clean up and repair the mess left by the hurricane.

“The amazing thing here is that we didn’t even have to start another gratuitous war like attacking Iran or Venezuela to grab their oil like we did in Iraq in order to reap this bounty,” Cheney continued. “All we had to do as sit tight and continue to pump out more and more carbon dioxide from our coal-fired power plants and elsewhere into the atmosphere. Then the greenhouse effect kicked in, sea water heated up, hurricane strength intensified, and then Katrina came right to us.”

President George Bush added that these billions of dollars are stimulating the U.S. economy and this proves that his policy of opposing the Kyoto Protocol has been a success.

“My Administration has brought this devastation right to the American homeland, and these billions of dollars are even now filtering their way into Republican bank accounts and into our economy,” he stated. “This is supply side, trickle down economic policy on a grand scale. Everyone will benefit, although rich Republicans will benefit most of all.”

Bush also noted that his appointing a 'bozo' like Michael Brown to head FEMA and cutting the budget of the U.S. Corps of Army Engineers had immensely helped achieve these fantastic results.

Cheney then added that the latest estimate of the $300 billion cost due to Katrina exceeded even his wildest hopes.

“We’ve also demoralized a lot of Democratic voters in the South in the process, and this can only help us win in the Congressional elections of 2006,” he added with a broad grin on his face. “Hurricane costs may even exceed $300 billion, and just wait for the next ones to hit us.” SOURCE

---

This says it all about where the current administration is coming from. Has anyone seed the documentary "The Corporation" about American big business? You did know that future traders were ecstatic when planes hit on 9/11 because all of their clients in oil were going to have values that double, tripled and quadrupled. And now Katrina, they've got to be bouncing off the walls, not even caring how much suffering this is bringing to our country. Modern day robber barons.

p.s. yes I know the source is thespoof... but the article is so true in a way , isn't it?

[Squirt]

Another TRUE fact regarding Halliburton.. as posted on their website:

"Founded in 1919, Halliburton is one of the world's largest providers of products and services to the oil and gas industries. The Company adds value through the entire lifecycle of oil and gas reservoirs."

Now who the FUCK benefits when oil and gas prices skyrocket to all time highs.... only they do. Gas and Oil prices hit record highs in all of American history when? When the Vice President has strong ties, and income, from "one of the world's largest providers of products and services to the oil and gas industries"

But then again.. it's just Bush bashing right. Oil and gas prices aren't at all time highs. Halliburton isn't getting contracts. And Cheney doesnt have differed income from Halliburton.

No matter what your political affiliation, you pay more at the pump now and your vice president is getting paid by one of the companies making prices higher :groovy:

None of this is a matter of political affiliation, it's about the health of the American economy, standard of living, and the state of America today.

[BDBionic]

Cheney and Halliburton aside, you're missing an important part of the story, Squirt.

That Michael Brown - the bumbling director of FEMA - got the job as director of the agency because of Allbaugh. Those articles only refer to him as being a lobbyist and hooking Halliburton up. But he was also the man that got his old college buddy - Michael Brown - the job as director of FEMA in 2003.

Check these articles out:

http://business.bostonherald.com/bus...ticleid=100857

http://www.time.com/time/nation/arti...103003,00.html

This ain't just a Republican thing. Political appointees such as these have been a Washington standard for years and years. Whenever a new administration comes along - Rep or Dem - an army of friends and buddies and cronies and political allies and former campaign officials and contributors and such flood Washington to assume political appointment positions. In this particular case, it surely seems to have bitten em in the ass - "them" being the Democrats who didn't bother questioning Brown during his appointment hearings because they play the political appointee game too, and the Republicans for nominating someone for such a critical position who was obviously so underqualified. It's not like this was the Ambassador to Luxembourg. The director of FEMA is invariably gonna have to deal with some pretty intense shit. And this is the guy they threw in there? pft.

[Squirt]

Cheney and Halliburton aside, you're missing an important part of the story, Squirt.

That Michael Brown - the bumbling director of FEMA - got the job as director of the agency because of Allbaugh. Those articles only refer to him as being a lobbyist and hooking Halliburton up. But he was also the man that got his old college buddy - Michael Brown - the job as director of FEMA in 2003.

Check these articles out:

OMG if I was going into any kind of depth regarding the corruption I'd be here 24/7 for weeks.

My main point was that our vice president is getting paid, as we speak, by a company that has a large part to play in us having record Gas/Oil prices.

I'm pretty over all the corruption and lies. I'm not in America so there is little I can do but send letters and email and vent

[basschick]

BDBionic - clinton's emergency management guy had a bunch of experience IN emergency management. that's a far cry from michael brown.

cronyism in government has always been around, but in the past, they tried to get people into high profile spots who could either do the work or get it done. i'm sure this was more about political survival rather than concern for the people, but it worked out for all.

not to mention that in the past, MANY organizations got contracts for things involved in war or emergencies. now it's only ONE company :-/

bush doesn't worry about that, though - it seems like bush thinks he's invincible politically - and sadly, he seems to be right

[Squirt]

I find it frustrating when things go bad to hear that other people have done this before, or it's common.

You guys should really watch "the corporation" or at least visit http://www.thecorporation.com

Isn't it time people stop making excuses for this administration? What the fuck else has to go wrong in our country for people to get a clue? Seriously, what else? Bush has a 38% approval rating, a full 20 points lower then Clinton at his lowest approval while in office. And that's not bipartison approval, that's the approval of the average American. (I'm only comparing to Clinton because that's all thepollingreport.com has stats for )

Maybe some of you will attend this rally and be seen/heard

-----

Responding to the outpouring of support for the planned Impeach Bush contingent at the September 24 rally at the White House, the impeachment movement has started reserving buses to take thousands of people to Washington D.C.

Buses are expensive to rent, but it's impossible to have a massive demonstration in Washington D.C. without reserving the buses, making down payments, and starting to sell at-cost tickets now. Keeping the price of bus tickets low is essential so that everyone who wants to participate can come to the September 24 rally.

Impeach Bush committees are organizing all over the country for September 24.

Buses are coming to Washington from as far away as Albuquerque, New Mexico. There will be hundreds of cities and towns that will be organizing buses, car caravans, and other means of transportation to come to the White House on September 24.

Since many people will be coming from New York City and other East coast cities, it is urgent that we reserve another 100 buses. To make the down payment we will need to raise $25,000 in the next ten days. This is just one of the many expenses that must be met as we build a truly mass, nationwide impeachment movement.

Make a donation today to help fund this movement. The next few months are a critical period and the movement can’t grow without your help. To make a contribution on our secure server, where you can also obtain information to write a check, click here.

By the first week of August we will have a full transportation page on the web site http://www.impeachbush.org/. This page will allow everyone to see the local contact information in their area for bus and car travel to the September 24 demonstration.

On September 24, the ImpeachBush.org contingent will rally in a huge area called the Ellipse - the park at the south side of the White House - for which the anti-war coalition A.N.S.W.E.R. has secured a permit. The Ellipse is literally at the front door of the White House.

September 24 will be a historic day. Hundreds of thousands of people are coming together to engulf the White House in a sea of humanity - to demand an end to the illegal war and occupation of Iraq, and to insist that President Bush, along with Cheney, Rumsfeld and others be impeached for their criminal conduct. Their lies have resulted in the deaths of so many thousands of innocent people - and they must be held accountable.

[desslock]

Why is it an outrage that an oil services company with major operations in Houston and New Orleans is called to provide services for effected oil-production areas in the Gulf of Mexico? After all, I suppose you are alleging that there are tons of oil services companies just hanging around willing to do this... I know I pass at least three when I walk down to see the soup peddler on Annie Street.

And Cheney is not getting paid by Halliburton. That is simply incorrect. Are you familiar with the complicated set of blind trusts and other releases that all federal officials must complete before taking office? Christ, it's just a company. Halliburton as Brown and Root built all the dams that run through Central Texas....which was all contacted out in the 1930s and 1940s
by the federal government. So what? Are you alleging that private companies should be eliminated from this process and the government perform all operations itself?

Oh, and the oil and gas companies are not creating a situation of high prices. The prices are set by supply and demand based on worldwide producton and use. To pick one example, the asset values of Mexico's Pemex are something like 10x that of Exxon/Mobil, which is the largest private oil company. The assets of government oil companies like Petrobras, Pemex, Saudi Arabia's, etc are humongous and vastly overshadow the assets of the private oil campanies like Exxon, Shell and BP.

Steve

[Squirt]

Oh, and the oil and gas companies are not creating a situation of high prices. The prices are set by supply and demand based on worldwide producton and use. To pick one example, the asset values of Mexico's Pemex are something like 10x that of Exxon/Mobil, which is the largest private oil company. The assets of government oil companies like Petrobras, Pemex, Saudi Arabia's, etc are humongous and vastly overshadow the assets of the private oil campanies like Exxon, Shell and BP.

Strange because they just had two expose's , on two different channels tonight, of Shell and Exxon, which supply 30% of the gas for Australia. They did the charts showing the massive increase in prices while demand increased only a fraction, and crude oil prices went down as gas prices increased.

Are you happy with the state of America? If not, what would you change? Would America be in Iraq? Would the head of FEMA been a person with qualifications? Would we still have a record deficit if you had your way? Would we have record Gas and Oil prices? Isn't it time we find solutions to our problems instead of deflecting blame? The Bush administration is in control, if they have a clue of what going on, then why are we in such trouble as a nation? Or do you feel everything is fine the way it is?

[CJ-KJCash]

Yeah, funny thing is, with all the facts in front of them, there are still people out there that try to defend and uphold Bush to me. Unfortunately, most of them are family members, but I am still hoping that there was a mix up at the hospital when I was born.

I talked to my dad a few days ago and he tried to expound on all the virtues of Bush, how it really was all the state and local officials in New Orleans that fucked everything up. He went further to inform me that I was not getting the whole story, there is a conspiracy evidently amongst the press but the only ones that seem to be immune to this and true partiots are yes, you got it, the gang at FOX news.

What is really sad, aside from the fact that I may be genetically tied to these people, is that there are many more like this in the states that fall for all the propaganda bullshit and are not even able to think for themselves. I laugh the hardest when my dad uses a word that I know he doesnt know, he is just regirgitating what he has heard, and I ask him to explain in a little more detail.

OK, that is the extent of my rant. I am just glad I am not there to be a part of this craziness.

[Squirt]

Why is it an outrage that an oil services company with major operations in Houston and New Orleans is called to provide services for effected oil-production areas in the Gulf of Mexico? After all, I suppose you are alleging that there are tons of oil services companies just hanging around willing to do this... I know I pass at least three when I walk down to see the soup peddler on Annie Street.

Halliburton is not just an oil services company. It's an outrage that a company who is paying our vice president is being awarded multiple billion dollar contracts.

Go here to find out details about Halliburton and their corruption, past and present http://www.halliburtonwatch.org/about_hal/about.html

Another reason I feel strongly about this situation:

"On October 4, 1999, Halliburton CEO Dick Cheney announced the sale of a business unit, a decision that robbed $25 million from worker pensions. Workers wondering where all that money disappeared may look to Cheney’s own pension. That’s because nine months after plundering $25 million from the pension, Halliburton’s board of directors, with Cheney as its chairman, awarded Cheney a $20 million pension. And it was all legal. This is the stuff of Oliver Stone's fictional Wall Street raider Gordon Gecko."

"Cheney has a history of approving exorbitant pensions for senior executives. He spent years on various corporate compensation committees, which determine the compensation for senior executives. For example, during the 1990s, Cheney sat on compensation committees for Union Pacific, Electronic Data Systems and Procter & Gamble. The Washington Post reported “a number of shareholder activists chastised Cheney for going along with what has become a common practice of lavishing large bonuses on departing chief executives.”

Congress passed pension reform legislation in April. It is expected to be signed into law by President Bush. But, not surprisingly, the legislation does nothing to prevent companies from raiding pension plans as a means to finance corporate mergers and acquisitions. Nor does it prevent the use of worker pensions to finance exorbitant pension benefits of former CEOs like Dick Cheney. "

This is our vice president... an oil exec. What is his experience in politics? Maybe he managed some Arabian horses somewhere

Halliburton's Subsidiaries

143 total subsidiaries, 36 incorporated in the United States

Avalon Financial Services, Ltd., Cayman Islands
Baroid Algeria de Service aux Puits SpA, Algeria
Baroid Corporation, United Kingdom
Baroid de Venezuela, S.A. Venezuela
Baroid GmbH Germany
Baroid International Inc. United States
Baroid International Trading, LLC United States
Baroid Limited United Kingdom
Baroid Nigeria, Inc. United States
Baroid of Nigeria Limited Nigeria
Beheersmaatschappij van Aandelen in Textielverwerkende Ondernemingen "Betex" B.V." Netherlands
BITC (US) LLC United States
BITC Holdings (US) LLC United States
BPM Minerals, LLC United States
Breswater Marine Contracting B.V. Netherlands
Brown & Root Cayman Holdings, Inc. Cayman Islands
Brown & Root Construction Pty Ltd Australia
Brown & Root Projects Pty Ltd Australia
Cebar Sdn. Bhd. Brunei Darussalam
Combisa, S. de R.L. de C.V. Mexico
Corporacion Mexicana de Mantenimiento Integral S. de R.L. de C. V. Mexico
Devonport Management Limited United Kingdom
Devonport Royal Dockyard Limited United Kingdom
DII Industries, LLC United States
Dresser Kellogg Energy Services (Nigeria) Ltd. Nigeria
Dresser Kellogg Energy Services Inc. United States
Georgetown Finance Ltd Caymans Islands
Granherne International (Holdings) Ltd United Kingdom
Granherne Limited United Kingdom
GVA Consultants Aktiebolag Sweden
Halliburton Acquisitions Limited United Kingdom
Halliburton Affiliates, LLC United States
Halliburton Argentina S.A. Argentina
Halliburton AS Norway
Halliburton Australia Pty. Ltd. Australia
Halliburton B.V. Netherlands
Halliburton C.I.C.S. Inc. Cayman Islands
Halliburton Canada Holdings, Inc. United States
Halliburton Company United States
Halliburton Company Germany G.m.b.H. Germany
Halliburton Consolidated Pty Ltd Australia
Halliburton de Mexico, S. de R.L. de C.V. Mexico
Halliburton Denmark A/S Denmark
Halliburton Energy Development (North Sea), Inc. United States
Halliburton Energy Services (Malaysia) Sdn. Bhd. Malaysia
Halliburton Energy Services Nigeria Limited Nigeria
Halliburton Energy Services, Inc. United States
Halliburton EPC-22 Holdings, S. de R.L. de C.V. Mexico
Halliburton Equipment Company S.A.E. Egypt
Halliburton Far East Pte Ltd Singapore
Halliburton Global, Ltd. Cayman Islands
Halliburton Group (Barbados) SRL Barbados
Halliburton Group Canada (Partnership) Canada
Halliburton Group Canada Inc. Canada
Halliburton Group Holdings (1) Company Canada
Halliburton Holding Germany GmbH Germany
Halliburton Holdings (No. 2) Limited United Kingdom
Halliburton Holdings (No. 3) Limited United Kingdom
Halliburton Holdings 2002 B.V. Netherlands
Halliburton I Cayman, Ltd. Cayman Islands
Halliburton Industries AG Liechtenstein
Halliburton Interim, Inc. United States
Halliburton International, Inc. United States
Halliburton Italiana S.p.A. Italy
Halliburton Latin America S.A. Panama
Halliburton Limited United Kingdom
Halliburton Manufacturing and Services Limited United Kingdom
Halliburton Netherlands Operations B.V. Netherlands
Halliburton Norway Holdings C.V. Netherlands
Halliburton Operations Nigeria Limited Nigeria
Halliburton Overseas Limited Cayman Islands
Halliburton Products & Services Limited Cayman Islands
Halliburton Produtos Ltda. Brazil
Halliburton Sakhalin Limited Cyprus
Halliburton S.A.S. France
Halliburton Servicos Ltda. Brazil
Halliburton Trinidad Limited Trinidad and Tobago
Halliburton West Africa Ltd. Cayman Islands
Halliburton Worldwide Limited Cayman Islands
HBR Energy, Inc. United States
HBR NL Holdings, LLC United States
HED (Indonesia), Inc. United States
HES Corporation United States
HES Holding, Inc. United States
HES Indonesia Holdings, Inc. United States
HES Oilfield Operations (Nigeria), Inc. United States
Howard Humphreys & Partners Limited United Kingdom
Howard Humphreys Group Limited United Kingdom
KBR Australia Pty Ltd Australia
KBR Group Holdings, LLC United States
KBR Holdings Pty Ltd Australia
KBR Indonesia Holdings, Inc. United States
KBR Overseas, Inc. United States
KBR Production Services Pty Ltd Australia
KBR Technical Services, Inc. United States
KBR Water Services Pty Ltd Australia
Kellogg Brown & Root (Canada) Company Canada
Kellogg Brown & Root (Services) Limited United Kingdom
Kellogg Brown & Root (U.K.) Limited United Kingdom
Kellogg Brown & Root Algeria Inc. United States
Kellogg Brown & Root Asia Pacific Pte Ltd Singapore
Kellogg Brown & Root DH Limited United Kingdom
Kellogg Brown & Root Holding B.V. Netherlands
Kellogg Brown & Root Holdings (U.K.) Limited United Kingdom
Kellogg Brown & Root Holdings Limited United Kingdom
Kellogg Brown & Root International, Inc. (A Delaware Corporation) United States
Kellogg Brown & Root International, Inc. (A Panamanian Corporation) Panama
Kellogg Brown & Root Limited United Kingdom
Kellogg Brown & Root Netherlands B.V. Netherlands
Kellogg Brown & Root Offshore Contractors 2 B.V. Netherlands
Kellogg Brown & Root Projects Limited United Kingdom
Kellogg Brown & Root Pty Ltd Australia
Kellogg Brown & Root, Inc. United States
Kellogg Overseas Corporation United States
Kinhill Holdings Pty Ltd Australia
Kinhill Pacific Pty Ltd Australia
Landmark EAME Limited United Kingdom
Landmark Graphics AS Norway
Landmark Graphics Corporation United States
Laurel Financial Services B.V. Netherlands
M. W. Kellogg Constructors Inc. United States
M. W. Kellogg Limited United Kingdom
Mashhor Well Services Sdn Bhd Brunei Darussalam
Mid-Valley, Inc. United States
North Sea Assets Limited United Kingdom
Oilfield Services Receivable Corporation United States
P.T. Brown & Root Indonesia Indonesia
Personal Para Soluciones Optimas, S de RL de CV Mexico
PetroData AS Norway
Petroleum Engineering Services Norge AS Norway
PT Baroid Indonesia Indonesia
PT Halliburton Indonesia Indonesia
PT Halliburton Logging Services Indonesia Indonesia
Rockwater Holdings Limited United Kingdom
Rockwater Limited United Kingdom
Security DBS N.V. Belgium
Servicios Halliburton De Venezuela, S.A. Venezuela
Servicios Profesionales Petroleros, S. de R.L. de C.V. Mexico
Sigma 3 (North Sea) Limited United Kingdom
Sperry-Sun Saudi Arabia Ltd. Saudi Arabia
SubSahara Serivces Inc United States
WLTD Limited United Kingdom
WLTD, Inc. United States

[Squirt]

Steve... another reason you can't say the cozy Cheney connection is just run of the mill

Cheney Violates Ethics Law
“These are not times for leaders who shift with the political winds, saying one thing one day and another, the next.” -- Dick Cheney

On the Sept. 14, 2003 edition of NBC's Meet the Press, Vice President Dick Cheney said, "And since I left Halliburton to become George Bush's vice president, I've severed all my ties with the company, gotten rid of all my financial interest. I have no financial interest in Halliburton of any kind and haven't had, now, for over three years."

But, just as Cheney's wild claims about weapons of mass destruction turned out to be untrue and his claim that Halliburton had no ties to Saddam Hussein was bogus, his denial about profiting from Halliburton as vice president was also a bald-face lie. So while Cheney denied any relationship with Halliburton as vice president, he conveniently forgot to mention that he continues to receive from the company deferred salary of over $150,000 while maintaining 433,333 shares of unexercised stock options. Certainly, Cheney has a "financial interest in Halliburton" while working as vice president.

When confronted with the proof of his ongoing financial ties with Halliburton, Cheney responded by claiming his deferred salary and stock options are not actually a "financial interest" as defined by federal ethics standards and therefore not a conflict of interest. This prompted the Congressional Research Service to issue a report which confirmed Cheney's ongoing financial interest in Halliburton "is considered among the 'ties' retained in or 'linkages to former employers' that may 'represent a continuing financial interest' in those employers which makes them potential conflicts of interest."

Caught in another lie, Cheney manufactured another excuse: He said the financial interest in Halliburton is not tied to the success or failure of the company because of an insurance policy. In other words, the insurance policy, which guarantees his financial interest will be paid to him regardless of Halliburton's success or failure, is proof there is no quid-pro-quo. He also said the stock options will be donated to charity, rather than used for his personal gain.

It's clear that Cheney broke the ethics law, but both the president and vice president are exempt from the enforcement of such laws. Therefore, Cheney cannot be prosecuted for his conflict of interest or his lie.

DEFERRED SALARY: Cheney received $205,298 in deferred salary from Halliburton in 2001, $162,392 from the company in 2002 and $178,437 in 2003. Sen. Frank Lautenberg (D-NJ) said, "Deferred salary is not a retirement benefit or a payment from a third party escrow account, but rather an ongoing corporate obligation paid from company funds."

Should Halliburton's stock price increase over the next few years, the Vice President could exercise his stock options for a substantial profit, benefiting not only his designated charities, but also providing Halliburton with a substantial tax deduction.

Halliburton Stock Options Currently Held by Cheney (current to end of 2002): 100,000 shares at $54.5000 (vested), expire 12-03-07; 33,333 shares at $28.1250 (vested), expire 12-02-08; 300,000 shares at $39.5000 (vested), expire 12-02-09.

Cheney's deferred compensation and stock option benefits are in addition to a $20 million retirement package paid to him by Halliburton after only five years of employment; a $1.4 million cash bonus paid to him by Halliburton in 2001; and additional millions of dollars in compensation paid to him while he was employed by the company.

In 2002, Cheney's total assets were valued at between $19.1 million and $86.4 million.

[basschick]

desslock - when i was a kid, a young adult, and a 30 something, every war and event led to many companies getting contracts. it was a system that spurred our economy and our employment.

now the ONLY company getting any major government contracts is haliburton - and come ON! no one is even allowed to bid against them.

remember, those are the people who charged the government for hot lunches that it turned out they weren't serving the army boys? that was proven, but nothing was done. haliburton simply pocketed the extra money.

these contracts belong with a large number of companies, not one. people working for other companies deserve jobs. besides, this is the only war in that i can find that the u.s. was involved with where our economy took a downward turn. usually all those juicy DOD contracts make our economy boom in war. but haliburton has enough money so that they don't need to spend what they are being paid - so our economy stagnates

Why is it an outrage that an oil services company with major operations in Houston and New Orleans is called to provide services for effected oil-production areas in the Gulf of Mexico? After all, I suppose you are alleging that there are tons of oil services companies just hanging around willing to do this... I know I pass at least three when I walk down to see the soup peddler on Annie Street.

And Cheney is not getting paid by Halliburton. That is simply incorrect. Are you familiar with the complicated set of blind trusts and other releases that all federal officials must complete before taking office? Christ, it's just a company. Halliburton as Brown and Root built all the dams that run through Central Texas....which was all contacted out in the 1930s and 1940s
by the federal government. So what? Are you alleging that private companies should be eliminated from this process and the government perform all operations itself?

Oh, and the oil and gas companies are not creating a situation of high prices. The prices are set by supply and demand based on worldwide producton and use. To pick one example, the asset values of Mexico's Pemex are something like 10x that of Exxon/Mobil, which is the largest private oil company. The assets of government oil companies like Petrobras, Pemex, Saudi Arabia's, etc are humongous and vastly overshadow the assets of the private oil campanies like Exxon, Shell and BP.

Steve

[Squirt]

...this is the only war in that i can find that the u.s. was involved with where our economy took a downward turn. usually all those juicy DOD contracts make our economy boom in war. but Halliburton has enough money so that they don't need to spend what they are being paid - so our economy stagnates

It's important to remember Basschick that Halliburton has 143 subsidiaries around the world. Of those, only 36 are registered U.S. corporations.. that's 25% So 75% of Halliburton is overseas.

So.... if Halliburton gets a $1 billion contract, you can expect that $750 million of that will go to overseas operations. Since only 36 of it's subsidiaries are U.S. based, they have a lot of overhead around the world, they have 25 offices here just in Australia.. that's a lot of people, real estate etc.

Bush is dumping billions to a company that is 75% based on foreign land. Odd don't you think? Sounds like a valid reason our economy isn't shining during war eh?